Myriad Genetics (NASDAQ:MYGN) Cut to “Market Perform” at Cowen

Cowen downgraded shares of Myriad Genetics (NASDAQ:MYGN) from an outperform rating to a market perform rating in a research report released on Tuesday, Benzinga reports. Cowen currently has $26.64 price target on the stock.

Other analysts have also issued reports about the company. BidaskClub lowered Extraction Oil & Gas from a hold rating to a sell rating in a research report on Saturday, May 4th. Zacks Investment Research lowered First Merchants from a hold rating to a sell rating in a research report on Monday, July 1st. Barclays set a $18.00 target price on Summit Materials and gave the stock a hold rating in a research report on Friday, June 14th. Needham & Company LLC reaffirmed a strong-buy rating and set a $32.00 target price on shares of Myriad Genetics in a research report on Tuesday, May 14th. They noted that the move was a valuation call. Finally, ValuEngine lowered Valero Energy from a hold rating to a sell rating in a research report on Wednesday, May 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Myriad Genetics has an average rating of Hold and an average target price of $37.74.

NASDAQ:MYGN opened at $25.72 on Tuesday. The firm has a 50-day moving average of $25.18. The company has a quick ratio of 2.86, a current ratio of 3.15 and a debt-to-equity ratio of 0.24. Myriad Genetics has a 12 month low of $22.07 and a 12 month high of $50.44. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.33 and a beta of 0.82.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). Myriad Genetics had a return on equity of 9.82% and a net margin of 2.62%. The business had revenue of $216.60 million for the quarter, compared to analysts’ expectations of $217.76 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s revenue was up 18.3% compared to the same quarter last year. On average, research analysts predict that Myriad Genetics will post 1.44 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Pearl River Capital LLC grew its stake in Myriad Genetics by 154.9% in the first quarter. Pearl River Capital LLC now owns 882 shares of the company’s stock worth $30,000 after purchasing an additional 536 shares in the last quarter. Investors Research Corp acquired a new position in Myriad Genetics in the first quarter worth about $46,000. Financial Gravity Wealth Inc. acquired a new position in Myriad Genetics in the first quarter worth about $56,000. Nisa Investment Advisors LLC grew its stake in Myriad Genetics by 625.0% in the first quarter. Nisa Investment Advisors LLC now owns 2,320 shares of the company’s stock worth $77,000 after purchasing an additional 2,000 shares in the last quarter. Finally, QS Investors LLC grew its stake in Myriad Genetics by 17,692.3% in the fourth quarter. QS Investors LLC now owns 4,626 shares of the company’s stock worth $135,000 after purchasing an additional 4,600 shares in the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

About Myriad Genetics

Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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